Morse Asset Management Inc Has $1.36 Million Stock Holdings in GE HealthCare Technologies Inc. (NASDAQ:GEHC)

Morse Asset Management Inc increased its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC) by 177.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,000 shares of the company’s stock after buying an additional 9,586 shares during the quarter. Morse Asset Management Inc’s holdings in GE HealthCare Technologies were worth $1,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in shares of GE HealthCare Technologies by 49.4% in the 4th quarter. Jennison Associates LLC now owns 1,208,830 shares of the company’s stock worth $93,467,000 after purchasing an additional 399,961 shares in the last quarter. South Dakota Investment Council lifted its stake in shares of GE HealthCare Technologies by 272.1% in the fourth quarter. South Dakota Investment Council now owns 98,262 shares of the company’s stock valued at $7,598,000 after buying an additional 71,857 shares in the last quarter. US Bancorp DE grew its holdings in shares of GE HealthCare Technologies by 83.4% during the fourth quarter. US Bancorp DE now owns 146,524 shares of the company’s stock valued at $11,329,000 after buying an additional 66,638 shares during the last quarter. Cerity Partners LLC increased its position in shares of GE HealthCare Technologies by 27.2% during the fourth quarter. Cerity Partners LLC now owns 45,929 shares of the company’s stock worth $3,551,000 after acquiring an additional 9,809 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of GE HealthCare Technologies by 3.9% in the 4th quarter. Fifth Third Bancorp now owns 33,632 shares of the company’s stock worth $2,600,000 after acquiring an additional 1,250 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

GE HealthCare Technologies Price Performance

Shares of GEHC traded up $0.58 during midday trading on Friday, reaching $80.50. The stock had a trading volume of 2,532,946 shares, compared to its average volume of 2,617,851. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $36.75 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. The company’s 50-day moving average is $78.65 and its 200 day moving average is $82.22. GE HealthCare Technologies Inc. has a 12-month low of $62.35 and a 12-month high of $94.50.

GE HealthCare Technologies (NASDAQ:GEHC) last released its earnings results on Tuesday, April 30th. The company reported $0.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.90. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.80 billion. GE HealthCare Technologies had a return on equity of 25.32% and a net margin of 8.05%. GE HealthCare Technologies’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. On average, equities analysts predict that GE HealthCare Technologies Inc. will post 4.27 EPS for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, July 19th. GE HealthCare Technologies’s payout ratio is presently 3.51%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GEHC shares. Citigroup boosted their price objective on GE HealthCare Technologies from $88.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Mizuho decreased their price target on GE HealthCare Technologies from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Argus increased their price target on GE HealthCare Technologies from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 1st. The Goldman Sachs Group began coverage on shares of GE HealthCare Technologies in a research report on Thursday, May 30th. They issued a “neutral” rating and a $87.00 price objective for the company. Finally, Evercore ISI raised their price target on shares of GE HealthCare Technologies from $93.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.09.

Insiders Place Their Bets

In other news, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the transaction, the chief technology officer now directly owns 67,300 shares of the company’s stock, valued at $5,296,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other GE HealthCare Technologies news, CEO Jan Makela sold 20,227 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $81.57, for a total transaction of $1,649,916.39. Following the completion of the sale, the chief executive officer now owns 63,348 shares of the company’s stock, valued at approximately $5,167,296.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Taha Kass-Hout sold 3,300 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $78.70, for a total transaction of $259,710.00. Following the completion of the sale, the chief technology officer now directly owns 67,300 shares in the company, valued at approximately $5,296,510. The disclosure for this sale can be found here. Insiders sold 90,482 shares of company stock valued at $7,369,137 over the last three months. Insiders own 0.27% of the company’s stock.

About GE HealthCare Technologies

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.